Tuesday, 8 May 2012

MMC plans to list Malakoff in 2013

KUALA LUMPUR (May 8) : MMC CORPORATION BHD [] (MMC) plans to list Malakoff Corporation Bhd next year as prospects for the company remain bullish, said its group managing director Datuk Hasni Harun.

"We are looking at the possibility of another key subsidiary, Malakoff going for public listing next year," he said in a statement on Tuesday.

Hasni explained that its immediate focus was to list its subsidiaries as part of an effort to unlock value of its stable of assets.

He added that Gas Malaysia Bhd's listing exercise would be completed by the second quarter of this year.

The company's positive growth in 2011 is expected to remain bullish after MMC and joint venture company, GAMUDA BHD [] were awarded the RM8.28 billion contract for tunneling works for the underground portion of the Klang Valley MRT.

"We are encouraged by the positive results for 2011, demonstrating our commitment in delivering growth to our shareholders. We have been registering consistent revenue growth at a compounded annual growth rate of 43.6% over the past 10 years, underpinned by continuous improvements in our operations and achievements in securing key infrastructure projects,” he said.

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